Governors are currently in Abuja
to discuss issues that led to the deadlock of the last Federation Accounts and
Allocation Committee (FAAC) meeting in Abuja.
The governors also met with Chris
Ngige, minister of labour, to discuss the contentious minimum wage
implementation as well as the issue of stamp duties which is currently in
court.
For the third time in a row, FAAC
meeting was deadlocked as state commissioners for finance rejected the revenue
put on the table by revenue agencies last week.
FAAC members have resolved not to
accept the allocation until a clear system for determining federation revenue
was put in place.
In April, the governors set up a
three-man committee to investigate the N20 trillion stamp duty which was not
allegedly remited to the federation account.
The committee, which is chaired
by Ibikunle Amosun, Ogun state governor, has Emmanuel Udom and Abubakar Bello,
governors of Akwa Ibom and Niger as members.
On January 15, 2016, the Central
Bank of Nigeria (CBN) had issued circular directing banks to deduct N50 stamp
duty on every N1,000 deposit made into current accounts.
In 2017, the senate alleged that
N20 trillion due to be paid into the federation account from stamp duty charges
on bank transactions was withheld.
The senate said projections for
stamp duty in 2015, 2016 and 2017 revenue frameworks of the nation’s annual
budget were put at N8.713 billion, N66.138 billion and N16.96 billion.
On the minimum wage being
proposed by government and labour, the governors are insisting on the
staggering of the implementation of the new wage if approved.
The Nigeria Labour Congress is
proposing a minimum wage of N65,000 for workers.
The governors are also discussing
the last tranche of the Paris Club refund and the states yet to get payment.
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